Mississippi Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-352B
• Format: Word; Rich Text

Description

18-352B 18-352B . . . Stock Option Plan under which committee appointed by Board of Directors can grant (a) Incentive Stock Options, (b) Non-qualified Stock Options, (c) Stand-alone or Tandem Stock Appreciation Rights, and (d) Phantom Stock (which entitles recipient to receive in cash when share vests, an amount equal to sum of (x) fair market value of a share of stock on date when such share of Phantom Stock vests and (y) aggregate amount of cash dividends paid with respect to a share of stock during period between date share of Phantom Stock was granted and date on which such share vests). Committee has broad discretion at time of making Phantom Stock awards to impose conditions that must be satisfied in order for Phantom Stock to become vested The Mississippi Stock Option Plan is a key element of WSFS Financial Corporation, a prominent financial services company based in Wilmington, Delaware. This plan provides an opportunity for WSFS employees based in Mississippi to acquire company stock options as part of their compensation package. The plan is specifically designed to incentivize and reward employees for their contributions to the company's success. Under the Mississippi Stock Option Plan, employees are granted the right to purchase a specified number of WSFS Financial Corporation shares at a predetermined price, known as the exercise price. These stock options typically have a vesting period, which means they cannot be exercised immediately upon being granted. Instead, they become exercisable over time, encouraging employees to stay with the company long-term. There are several types of stock options that may be included in the Mississippi Stock Option Plan: 1. Incentive Stock Options (SOS): These are stock options that meet certain criteria outlined by the Internal Revenue Service (IRS). SOS offer potential tax advantages to employees, as any gain from exercising and selling these options may be subject to capital gains tax, rather than ordinary income tax. 2. Non-Qualified Stock Options (SOS): Unlike SOS, SOS do not meet the IRS criteria for preferential tax treatment. The gain from exercising SOS is subject to ordinary income tax rates. However, SOS can be more flexible in terms of eligibility and availability compared to SOS. 3. Restricted Stock Units (RSS): While not technically stock options, RSS are another form of equity compensation. RSS represents a promise to distribute a specified number of WSFS Financial Corporation shares to an employee at a future date, subject to vesting conditions. RSS are often used as a retention tool, as they ensure employees receive company stock after a predetermined period. The Mississippi Stock Option Plan underscores WSFS Financial Corporation's commitment to aligning employee interests with long-term shareholder value. By granting stock options, the company encourages employees to actively contribute to the company's growth, profitability, and overall success. This in turn can promote a culture of ownership and shared goal achievement within the organization.

The Mississippi Stock Option Plan is a key element of WSFS Financial Corporation, a prominent financial services company based in Wilmington, Delaware. This plan provides an opportunity for WSFS employees based in Mississippi to acquire company stock options as part of their compensation package. The plan is specifically designed to incentivize and reward employees for their contributions to the company's success. Under the Mississippi Stock Option Plan, employees are granted the right to purchase a specified number of WSFS Financial Corporation shares at a predetermined price, known as the exercise price. These stock options typically have a vesting period, which means they cannot be exercised immediately upon being granted. Instead, they become exercisable over time, encouraging employees to stay with the company long-term. There are several types of stock options that may be included in the Mississippi Stock Option Plan: 1. Incentive Stock Options (SOS): These are stock options that meet certain criteria outlined by the Internal Revenue Service (IRS). SOS offer potential tax advantages to employees, as any gain from exercising and selling these options may be subject to capital gains tax, rather than ordinary income tax. 2. Non-Qualified Stock Options (SOS): Unlike SOS, SOS do not meet the IRS criteria for preferential tax treatment. The gain from exercising SOS is subject to ordinary income tax rates. However, SOS can be more flexible in terms of eligibility and availability compared to SOS. 3. Restricted Stock Units (RSS): While not technically stock options, RSS are another form of equity compensation. RSS represents a promise to distribute a specified number of WSFS Financial Corporation shares to an employee at a future date, subject to vesting conditions. RSS are often used as a retention tool, as they ensure employees receive company stock after a predetermined period. The Mississippi Stock Option Plan underscores WSFS Financial Corporation's commitment to aligning employee interests with long-term shareholder value. By granting stock options, the company encourages employees to actively contribute to the company's growth, profitability, and overall success. This in turn can promote a culture of ownership and shared goal achievement within the organization.